Once the 4th of July holiday rolls around the year is half over. But since I'm a glass-half-full-gal, I see it as a great time of the year to take stock and check in on how I'm doing with goal progress. I would encourage you to do the same. How are you doing on your financial goals for the year?
Consumers with less than average credit, or poor credit, have difficulty acquiring the necessities that lead to comfortable living. Obtaining an excellent credit score can be extremely difficult, especially if consumers with poor credit don't know what they're doing wrong.
It's no secret that having a good credit score is essential to a healthy financial future. So why do so many people still struggle to reach a FICO Score of 740 or higher? One theory is that many individuals are making the same habitual mistakes and don't even realize that they're actively jeopardizing their credit score.
At CommonBond, we get a lot of questions from student loan applicants who are concerned about how applying for a loan will affect their credit.
A healthy credit score is almost essential for comfortable living these days. Without credit, it's nearly impossible to get an auto loan, mortgage, or personal loan if needed. Interest rates are excessively high for those who have limited or bad credit.
Repairing your credit can be an uphill battle, but with the right strategy, it's possible to improve your credit health over time. The big question is whether you want to use a credit repair service to accomplish your credit repair goal or take this project on yourself.
It can be challenging to listen to the wisdom of the generations before us (we all have to make our own mistakes, right?), but there are some key credit lessons that are long overdue their time in the spotlight.
As the nation's full retirement age edges closer to 70, it means a 22-year-old college graduate has nearly 50 years to save and invest. That's why solid money habits built early can make an enormous difference, even for young people who can't afford to put away more than a few dollars a week at the start.
If you're a working professional and you're using social media to connect with friends, colleagues and business opportunities, then you need to be aware that your posts, updates, tweets and pictures can impact your financial future.
The Fair Isaac Corporation estimates that there are 53 million people in the U.S. who don't have a FICO score and the most recent scoring model shift is expected to impact about 15 million of them right away.
Think of it like this; a 740 credit score is the equivalent of an A+, and there is no such thing as A+++++. If you have a credit score significantly above 740, then I suppose you can brag about it to your friends, but you won't receive any benefits above what you would have if your score was just 740.
It's not the end of the world if you have bad credit. Actually, millions of Americans have credit that's rated below average. While it's not something you might be proud of, it's important to know that there are some ways to make it better.
Do you know your FICO Score? With a new version of the leading credit scoring system released this past fall, it's even more important to understand how you're managing your credit.
Recent trends have shown that Americans, particularly millennials, are weary of using credit cards. The problem largely stems from the way credit cards are viewed today. They are typically perceived as a "last resort" for consumers who can't afford to pay for their purchases.
Many parents want to help their children start building their credit foundation early, and to do so, they become co-signers or allow their children to become authorized users on their credit card accounts. Both of these options have advantages and disadvantages, but do you know the difference?
It wasn't easy, but your credit score just passed the 661 mark into "good" territory or the 781 mark into the "excellent" category. Congratulations, you're now a credit score champion! After you're done basking in your own glory, it's time to actually put that credit score to effective use.